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ZyIMAGE Enables Fed Funding Mortgage Corporation
to Enhance Operational Efficiency While Fulfilling Industry Data
Retention Regulations
March 29, 2006 - Vienna, VA - ZyLAB, an innovative
developer of Information Access Solutions, today announced that
Fed Funding Mortgage Corporation (FFMC), a leading provider of non-bank
mortgage originations in the mid-Atlantic region, is currently using
ZyIMAGE to address the data storage and management issues for its
client records. ZyIMAGE supports FFMC with a comprehensive XML-based
platform to archive, search, and retrieve client files in any format
- digitized paper, electronic files, multimedia, as well as e-mail
and attachments.
FFMC processes up to 50 loans per day with each loan consisting
of 250-450 pages. In addition, because of the growing concerns about
data security, FFMC keeps copies of every single item. Between the
original loans and copies, massive amounts of information are produced,
thus raising significant management and storage issues. Further,
FFMC must adhere to compliance requirements for being able to rapidly
locate information as well as protect data when it is being shared
and stored.
Prior to implementing ZyIMAGE, FFMC kept much of this information
in storage at an off-site facility. If information was needed, FFMC
would request it by box number, and although they could obtain the
information within 24 hours, this was an inefficient and expensive
way to operate. ZyLAB was brought in to modernize the entire process
of managing and protecting this important and confidential information.
FFMC's ZyIMAGE solution was up and running within just one week.
Today, rather than having to manage boxes of paper, all of FFMC's
data is located within ZyIMAGE and information can be found in near
real time.
"Any financial or mortgage company that is committed to rapid
growth needs more efficient and secure ways to handle large volumes
of case files," said Dr. Johannes Scholtes, president of ZyLAB
North America LLC. "With the implementation of ZyIMAGE, FFMC
is saving money on storage, making copies of case files, as well
as man hours managing and locating information. The ROI is almost
immediate within a financial organization that must manage large
volumes of information on a day-to-day basis."
About Fed Funding Mortgage Corporation
Fed Funding Mortgage Corporation (FFMC) is one of the leading providers
of non-bank mortgage origination in Maryland, Washington, DC, Virginia
and West Virginia. Since its inception in 1993, FFMC has grown from
one office of four brokers to two offices, over 50 staff lender/broker.
With over 50 Fortune 500 investors, Fed Funding has access to an
array of loan programs to suit virtually every customer's need.
FFMC maximizes its customers buying power by offering programs ranging
from conforming to jumbo to FHA and VA, as well as a wide variety
of adjustable rate mortgages. In addition, FFMC also offers 30-180
day lock periods with available float down options. For more information
visit: http://www.ffmcorp.com/info/about.rad
About ZyLAB
With over 7,500 installations worldwide and over 350,000 users,
ZyLAB has a wide breadth of experience and knowledge across a variety
of different industries and business applications. Our clients include
such US Government organizations as the FBI, Department of Homeland
Security, Department of the Treasury, Department of Justice, SEC,
Department of Agriculture, Department of Commerce, IRS, Nuclear
Regulatory Commission, Department of Labor, State Department, Amtrak's
OIG, Office of Personnel Management, Department of Defense and all
branches of the US military, as well as such well-known companies
as Anheuser-Busch, Dow Automotive, and Pacific Life Insurance Company.
The company is headquartered in Vienna, Virginia, and has offices
in the United Kingdom, Germany, Spain, France, the Netherlands,
Singapore and Australia to provide local service to its global client
base. For more information visit :www.zylab.com
Media Contact:
Evan Weisel
Welz & Weisel Communications
P: 703-323-6006
evan@w2comm.com
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